GM's EREV, extended range electric vehicle, with a 16kWh Li-ion battery from LG Chem, giving the Volt a 35 mi all electric range and 379 mi total range. In hybrid mode, the Volt will achieve 37 MPG and in electric mode the Volt will consume 36kWh/100 mi (93 MPGequivalent). The Volt is a 4-door, 4-seater hatchback powered by a 150 hp electric motor and a 1.4L gasoline engine, which supplements the electric motor once the batteries have been depleted. GM has announced that 7,000-10,000 Volts will be produced within the first year of production. Delivery of the first Volts began in December 2010.
You are correct, the Volt qualifies for the $7,500 federal tax credit. According to Plug In America's incentives page:
"WA - BEVs are exempt from 6.5% sales tax and PHEVs exempt from the motor vehicle sales tax of 0.3%. Tax exemptions also apply to charge station parts and labor costs"
I think the Volt would qualify as a PHEV in this situation. Keep in mind I am not an accoutant. Please verify this with a professional before making any descisions.
Volt